According to reports from CNBC TV18 and HDFC SKY, Gujarat Ambuja Exports Ltd announced on Wednesday (September 9) that it will establish an 850 tonnes per day (TPD) greenfield corn wet milling plant at Hubli, Karnataka, with an investment of ₹333 crore through internal accruals. The facility is subject to regulatory approvals and clearances, with the proposed plant expected to be commissioned by Q4 FY29. The ₹333 crore greenfield project is planned to be funded entirely through internal accruals, leaving the company's leverage profile clean and demonstrating strong fiscal strength. As per HDFC SKY, the company's focus is on expanding an existing manufacturing base rather than setting up an entirely new operating location, with the proposed plant sitting alongside its current 750 TPD corn wet milling facility at Hubli.
As reported by CNBC TV18 and HDFC SKY, the proposed plant will have the capacity to manufacture 400 tonnes per day of corn starch, 150 tonnes per day of sweeteners, and 300 tonnes per day of feed ingredients. The facility will be built adjacent to the company's existing 750 TPD corn wet milling plant at Hubli. With this expansion, the total manufacturing capacity at the Hubli unit will increase to 6,400 TPD from the existing 5,600 TPD, comprising 700 TPD of corn starch, 400 TPD of sweeteners and derivatives, and 500 TPD of feed ingredients. The addition of 150 TPD of sweetener capacity and 400 TPD of starch capacity shifts Hubli's output further toward high-margin derivatives rather than basic starches, providing the company with additional capacity across several product categories rather than simply increasing output of a single product.
According to CNBC TV18 and HDFC SKY, Gujarat Ambuja Exports currently has 5,600 TPD of corn wet milling capacity and plans to increase its overall corn wet milling capacity to 9,000 TPD by 2030. The company stated that the expansion will enhance its integrated manufacturing capabilities and product portfolio, while further strengthening its national and global presence. The expansion reinforces the company's position as India's largest maize processing company and captures value-added market trends across pharma and food processing sectors. The company expects the expanded unit to have capacity for 700 TPD of corn starch, 400 TPD of sweeteners and derivatives, and 500 TPD of feed ingredients, with the project being part of its broader plan to strengthen manufacturing capabilities and increase presence in domestic and global markets.
As per HDFC SKY, the Gujarat Ambuja Exports share price closed at ₹166.39, down 0.54% on September 9, 2026, as the company announced its proposed ₹333 crore capacity expansion. The stock experienced a choppy trading session, slipping towards ₹164.50 around noon before recovering strongly and moving above ₹168 during the afternoon. However, the gains did not hold, and the stock eventually finished at ₹166.39. The closing performance came as the company announced its proposed ₹333 crore capacity expansion, with the market reaction reflecting investor sentiment toward the significant capital investment in the corn processing sector.
